Shiba Inu Coin Price Rises 7% Amid Market Rally
- Price Increase: On March 10, Shiba Inu Coin's price rose by 7% to $0.0000058, slightly above the year-to-date low of $0.00000525, although it remains 83% below its peak in 2025, indicating potential market recovery.
- Surge in Burn Rate: The burn rate for Shiba Inu surged by 162% in the last 24 hours, with over 6.58 million tokens burned, reducing the circulating supply to 585 billion and decreasing inflation, thereby enhancing token scarcity.
- Active Futures Market: Futures open interest increased to $62.8 million, sharply up from last week's low of $53 million, indicating rising demand in the market, which could further drive prices upward.
- Improving Technical Indicators: Shiba Inu has formed a large falling wedge pattern, and the Stochastic Relative Strength Index has risen from 20 in January to 55, suggesting a bullish divergence pattern, with a price target potentially reaching $0.0000080.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000478 | 0.0000052 | 0.0000056 | 0.00000602 | 0.00000642 | 0.00000684 | 0.00000724 |
| Fibonacci | 0.0000052 | 0.00000551 | 0.00000571 | 0.00000602 | 0.00000633 | 0.00000653 | 0.00000684 |
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